Sandisk (NASDAQ:SNDK) Shares Up 3% on Better-Than-Expected Earnings

Sandisk Corporation (NASDAQ:SNDK) shot up 3% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $1,115.00 and last traded at $1,096.51. 13,009,243 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 18,478,002 shares. The stock had previously closed at $1,064.21.

The data storage provider reported $23.41 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The firm had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 48.85%. The company’s revenue was up 251.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Blowout Q3 results — revenue jumped ~251% to $5.95B and non‑GAAP EPS of $23.41 materially beat estimates; management issued very strong Q4 guidance (EPS $30–33; revenue $7.75B–$8.25B), underpinning the rally. SanDisk Earnings Crush Estimates With 251% Revenue Surge
• Positive Sentiment: Company announced a $6B share buyback and reported multiple long‑term contracts (reports cite large multi‑year agreements backed by firm commitments), which reduce cyclicality and improve revenue visibility. Sandisk has thumping quarter on AI boom, secures long-term contracts and unveils big buyback
• Positive Sentiment: Margins surged (GAAP and non‑GAAP gross margins expanded sharply) driven by datacenter NAND pricing and product mix toward higher‑value SSDs — a near‑term earnings multiplier amid AI infrastructure buildout. SNDK’s Q3 Earnings Beat Estimates, Revenues Rise on Datacenter Surge
• Positive Sentiment: Analysts are revising models and raising targets after the print (examples: Cantor Fitzgerald, Wells Fargo), which supports further upside consensus. Wall Street revises Sandisk stock price target
• Neutral Sentiment: Company is shifting to a “new business model” with multi‑year contracts and guarantees that analysts say reduce cyclicality — important strategically but dependent on long‑term execution. Sandisk’s new business model improves visibility, reduces cyclicality: analysts
• Neutral Sentiment: Options and technical positioning had priced in a huge move heading into earnings (high volatility expected); some post‑print moves reflect that positioning more than a change to fundamentals. SanDisk Q3 Earnings Preview: Wall Street Braces for 21% Post-Report Swing
• Negative Sentiment: “Sell‑the‑news” / profit‑taking pressure and short‑term pullbacks followed the report in some sessions despite the beats — a common reaction after a parabolic run and heavy pre‑earnings positioning. Sandisk stock falls despite strong earnings report as investors ‘sell the news’
• Negative Sentiment: Concerns remain about how sustainable extreme margin levels and NAND pricing gains will be once supply tightness eases — commentators and some analysts flagged margin durability as a key risk. The Watchlist Panel: AI Demand vs. Supply Crunch
• Negative Sentiment: One shop (RBC) raised its target but kept a conservative “sector perform” stance, implying limited near‑term upside from current levels — a reminder of divergent Street views. Benzinga report on RBC price target

Analysts Set New Price Targets

A number of research firms recently weighed in on SNDK. Morgan Stanley reissued an “overweight” rating and set a $1,100.00 price target on shares of Sandisk in a research note on Monday, April 27th. Royal Bank Of Canada boosted their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research note on Friday. Wedbush boosted their price target on shares of Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday. Evercore reissued an “outperform” rating and set a $1,400.00 price target on shares of Sandisk in a research note on Friday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,200.00 price target on shares of Sandisk in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.05.

Insider Buying and Selling at Sandisk

In related news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the transaction, the director owned 9,907 shares of the company’s stock, valued at $6,216,939.71. This trade represents a 26.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNDK. Whittier Trust Co. acquired a new position in Sandisk during the fourth quarter valued at approximately $26,000. Greenline Wealth Management LLC acquired a new position in Sandisk during the fourth quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Sandisk during the third quarter valued at approximately $27,000. Chung Wu Investment Group LLC acquired a new position in Sandisk during the fourth quarter valued at approximately $27,000. Finally, CVA Family Office LLC acquired a new position in Sandisk during the third quarter valued at approximately $28,000.

Sandisk Stock Performance

The stock has a market cap of $175.20 billion, a price-to-earnings ratio of -156.39 and a beta of 4.83. The stock’s fifty day moving average is $753.17 and its 200-day moving average is $469.58. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06.

About Sandisk

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.